烟草在线据路透社报道编译　　在2011年的利润取得增长之后，3月27日，捷克卷烟制造商菲莫捷克公司选择不像去年那样，将保留收益支付出去，而是提议降低股息。

　　菲莫捷克公司在股东大会的邀请函中说，由菲莫国际公司持有大多数股权的菲莫捷克公司提议，根据2011年的利润，支付每股920克朗（49.93美元）的总股息。

　　去年，菲莫捷克公司从利润和保留收益中支付了每股1260克朗的股息。它在去年5月说，它不可能重复这种做法，会恢复到更“正常”的股息支付方式，根据这种方式，把几乎所有利润作为股息支付给股东。

　　公司的合并净利润从2010年的23.9亿克朗增长到了25.4亿克朗（1.3784亿美元）。

　　在出口增长13%的帮助下，公司的总收入增长6.6%，达到121.6亿克朗，而菲莫捷克公司在其中开展经营活动的捷克斯洛伐克市场，装运量却出现了下滑。

　　董事会主席Andras Tovisi说：“尽管我们的财务业绩得到了改善，但我们的卷烟装运量在捷克与斯洛伐克共和国却仍然受到压力，反映了当地传统的低价品牌的份额持续下降，以及消费者转向更便宜的烟草产品。”

　　菲莫捷克公司的主要市场捷克共和国正面临着今年经济不景气，以及政府的进一步紧缩政策，这个紧缩政策使得消费者转向更便宜的品牌。

　　烟草产品消费税1月份上提，在2014年计划再次上提。媒体在星期一报道，财政部正在考虑在明年小幅提税，以减弱计划在2014年进行的提税的影响。

　　菲莫捷克公司的股票在过去一年里一路上涨，涨幅达22%，表现大大优于布拉格主要指数下跌20%的结果。（1美元=18.4268捷克克朗）

Czech Philip Morris cuts div as 2011 profit rises

Reuters
Mar 27, 2012

　　Czech cigarette maker Philip Morris CR's proposed a lower dividend on Tuesday after a rise in 2011 profit, opting against paying out retained earnings as it did last year.

　　The group, majority owned by Philip Morris International , proposed a gross dividend of 920 crowns ($49.93) per share on 2011 profit, it said in an invitation to its annual general meeting.

　　Last year, Philip Morris CR paid a 1,260 crown per share dividend from profits and retained earnings. It had said in May last year it would not likely repeat the step, returning to a more "normal" payout where nearly all profit goes to a dividend.

　　Consolidated net profit rose to 2.54 billion crowns ($137.84 million) last year from 2.39 billion in 2010.

　　Revenue rose 6.6 percent to 12.16 billion, helped by a 13 percent rise in exports while shipments declined in the Czech and Slovak markets where it operates.

　　"Despite the improvement of our financial results, our cigarette shipment volume remained under pressure both in the Czech Republic and Slovakia, reflecting continued share declines for lower-priced local heritage brands and down-trading to cheaper tobacco products," Chairman Andras Tovisi said.

　　The Czech Republic, the company's main market, is facing a stagnant economy this year and further government austerity that has pushed consumers into cheaper brands.

　　The excise tax on tobacco products rose in January and is due to increase again in 2014. Media reported on Monday that the Finance Ministry is considering a slight tax rise next year to soften the impact of the expected increase in 2014.

　　Shares in Philip Morris CR have held up over the last year, rising 22 percent and well outperforming a 20 percent drop in Prague's main index. ($1 = 18.4268 Czech crowns)